Spokane Valley- Corridor Mixed Use-North Pines Middle School area

Vacant Land for Sale
Also listed as Multi-Family
Catylist Listing ID: 28274668
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Other
Gross Land Area: 198,613 SF
Sale Price: $5.50 PSF
Total Price: $1,092,371
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 11/14/2017

Overview / Comments

This 4.56 acre parcel is well situated for those new allowable uses in Corridor Mixed Use categories. CMU - Corridor Mixed Use - Allows for light manufacturing, retail, multi-family, assisted living, congregate care facilities, nursing homes, storage facilities and offices along major transportation corridors. The parcel is shovel ready with utilities services in, all LID issues paid, and a cooperative Land Use Department to quickly permit those CMU uses in the attached "Permitted Uses matrix. There are no height or density limitations but parking and west side setbacks will somewhat limit total density and uses as adjacent residential zones are protected through transitional height standards. The parcel is just west of Pines Road and fronts on both Broadway and Cataldo. It is across Broadway Ave from the new $26.6M North Pines Middle School building under construction. The neighboring properties include medical offices, assisted living facilities and new office buildings. The elevated site enjoys sweeping views to the south, close proximity to the Valley Hospital, traffic counts over 15,000 vehicles per day on Broadway, and mostly level terrain. It currently has a two bedroom home and large shop on the upper level of the lot. These structures although substantial have been given no value in the pricing of the parcel. Seller will consider a JV or long term ground lease or build to suit.

Additional Details

Nearest MSA: Spokane-Spokane Valley
County: Spokane
Taxing Authority: Spokane County
Tax ID/APN: 45161.1127
Zoning: CORRIDOR MIXED USE
Market Type: Medium
Property Located Between: Pines and Bowdish from Broadway to Cataldo
Side of Street: North
Road Type: Paved
Property Visibility: Excellent
Legal Description: Opportunity E 1/2 B74
Largest Nearby Street: Broadway Ave
Feet of Frontage: 327
Traffic/Vehicle Count: 15,108
Transportation: Bus, Highway, Other
Highway Access: Two blocks west of State Route 27 (Pines Road) on Broadway Ave
Airports: SIA - 16.5 mi- 20 min
Site Description: This 4.56 acre parcel is well situated for those approved CMU uses including light manufacturing, office, retail, and multifamily. It is just west of Pines Road (SR27) and fronts on both Broadway and Cataldo. It is across Broadway Ave from the new $26.6M North Pines Middle School building site. The neighboring properties include medical offices, assisted living facilities and new office buildings. The elevated site enjoys sweeping views to the south, close proximity to the Valley Hospital, traffic counts over 15,000 vehicles per day on Broadway, and mostly level terrain.
Area Description: The area is in the heart of Spokane Valley along Broadway Ave, a major thoroughfare.
Lot Frontage: 327
Lot Depth: 607
Zoning Description: CMU - Corridor Mixed Use - Allows for light manufacturing, retail, multi-family, and offices along major transportation corridors. Adjacent residential zones are protected through transitional standards.
Development Name: Broadway Ave Corridor Mixed Use parcel
Topography: Level
Easements: Ingress/Egress, Utilities
Easements Description: Ingress/Egress is a shared driveway off Broadway. The site also has an entrance on Cataldo.
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Storm Drain, Cable, Broadband, Other

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,633 75,620 115,336
Median Age: 34.59 37.65 38.25
Households: 5,633 30,995 46,113
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